A keenly awaited plan to mobilise $1.3 trillion a year in climate finance for developing nations by 2035 could spark a “positive tipping point” that drives an exponential shift in global climate funding, COP30 President André Corrêa do Lago said on Wednesday as the document was unveiled.
The 81-page “Baku to Belém Roadmap” offers a shopping list of potential measures that, if put into practice, could deliver on a promise made at last year’s UN COP29 summit to boost the provision of climate cash for poorer vulnerable nations from a range of public and private sources.
That deal came after developing countries in Azerbaijan were disappointed by wealthy governments offering an annual $300 billion by 2035 under a new UN climate finance goal, known as the NCQG.
Reaching the wider $1.3-trillion target, which includes the $300 billion, would require “significant effort” from traditional climate finance providers – including rich countries and development banks – as well as innovative sources, such as new taxes, the report says, adding that the goal is “achievable”.
In a foreword to the roadmap, the two presidents of COP29 and COP30, which takes place in Brazil over the next two weeks, say the $1.3 trillion “must power the next leap in climate implementation”, to make the Paris Agreement work faster and mainstream it across economies, societies and international finance.
The roadmap presents ideas on five elements of the global financial architecture: public concessional finance, fiscal and debt-related measures, private capital, multilateral climate funds and supervisory bodies, like regulators and central banks. The COP presidents say in their foreword that the roadmap “transforms scientific warning into a global blueprint for cooperation and tangible results”.
Not on the COP30 agenda
Yet it remains unclear how – or even whether – its recommendations will be taken forward.
Corrêa do Lago told journalists “there is no plan” for the roadmap to be formally discussed at the COP30 summit or reflected in its final outcomes. “There is no priority absolutely in having it approved or acknowledged at COP,” he added.
The roadmap was never meant to be a negotiated outcome at the UN climate talks. But the two COP presidencies took on the task of crafting a plan to scale up climate finance, with many developing countries viewing the new NCQG target for government funding as insufficient to meet their needs.
The non-binding report issued just before COP30 in the Amazon city of Belém offers a list of practical short-term actions that could guide the roadmap’s early implementation.
For example, it says developed countries could work together on a plan by the end of 2026 that explains how they will reach their goal of providing at least $300 billion a year. Amid cuts in overseas aid spending and tightening government budgets, the report says this step could improve “predictability” of finance flows.
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Multilateral development banks – seen as central to the roadmap’s delivery – could outline how they would reach a new “aspirational” climate finance target for 2035, possibly by changing some of their lending rules and adding more capital.
The report also suggests that the world’s 100 largest companies and its 100 largest institutional investors could report each year on how they are contributing towards the implementation of countries’ national climate plans.
In a statement on the roadmap, UN climate chief Simon Stiell said that “by scaling climate finance to match the scope of the climate crisis, we can turn ambition into momentum, making climate action a driver of economic growth, stability and shared prosperity”.
“The task is ambitious, but achievable,” he added. “The tools exist – what’s been missing is coordination and shared commitment.”
Campaigners disappointed
While welcoming some of the roadmap’s recommendations, climate campaigners said it had failed to live up to its promise and did not confront tricky subjects such as continued government subsidies for fossil fuels. Many also criticised it for relying too heavily on finance coming from the private sector.
Rebecca Thissen, global advocacy lead at Climate Action Network International, said the roadmap “feels more like a sketch than a compass”, adding that while pointing in the right direction, “it fails to chart a clear route or provide the tools” to reach the $1.3-trillion target.
Harjeet Singh, founding director of India’s Satat Sampada Climate Foundation, said the roadmap “correctly identifies the symptoms of our broken financial system” yet “fundamentally fails to prescribe the cure” or present “the transformation we have been demanding”.
There were hopes among climate justice experts that the roadmap would show how to raise more money for helping climate-vulnerable countries adapt to more extreme weather and rising seas – an area of climate action that is severely underfunded, with little prospect of rich nations raising their contributions.
Debbie Hillier, global climate policy lead for Mercy Corps said that while the roadmap calls for greater attention to adaptation, “it places too much weight on the mobilisation of private finance” which can cover at most 15–20% of global adaptation needs, according to recent research from the Zurich Climate Resilience Alliance.
Watch Climate Home News panel discussion on adaptation at COP30
Other suggestions in the roadmap focus on insurance against extreme weather events and earmarking spending in national budgets that can be released to help people prepare ahead of climate disasters.
Friederike Roder from the Solidarity Levies Task Force noted that the roadmap supports more debt-free financing, in particular for adaptation, which could be delivered at scale by solidarity levies, such as that supported by a new coalition of countries that aim to tax premium flyers.
Hillier said the report recognises the importance of public and grant-based resources to address adaptation and respond to climate-driven loss and damage, but does not follow the UN climate convention principle that countries that caused the climate crisis have a greater responsibility to meet the finance gap. “As such, it falls far short of what is needed,” she added.
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Roadmap to $1.3 trillion seeks to tip climate finance scales but way forward unclear
Climate Change
IPCC scientists vow to press on with climate reports despite political deadlock
Scientists have vowed to keep working on the next flagship set of reports for the Intergovernmental Panel on Climate Change (IPCC), after a political row over the timeline for their release saw its latest session suspended on Friday evening without agreement.
During the weekend, government officials and scientists alike expressed disappointment over the inability to reach a compromise before some delegates from developing countries and small island states had to leave the week-long meeting in Ethiopia to catch flights home.
The disagreement – which has persisted since early 2024 – turns on whether the three key parts of the AR7 assessment should all be published before the conclusion of the UN’s next Global Stocktake of global climate action, which is due to be completed in late 2028.
The IPCC issued a statement after the close of the session, saying that “key agenda items” – the timelines for the three AR7 reports, as well as the IPCC budget – remain open and under discussion. It said the IPCC’s plenary session and its deliberations on the pending agenda “will resume at the earliest opportunity”, giving no further details of when.
IPCC Chair Jim Skea told delegates in closing remarks that recent months had been some of the most turbulent for the climate science panel and that, if there were stronger words than “profound disappointment” he would use them, according to a summary published by the Earth Negotiators Bulletin (ENB). IPCC discussions happen behind closed doors.
IPCC scientists remained committed
In an open letter, issued on Monday, a group of nearly 120 scientists – from a total of 664 AR7 authors – said they “stand committed to continue working to deliver the AR7 reports in a manner that is rigorous, timely and inclusive, in line with our mandate to be policy-relevant”.
“An assessment that arrives after the decisions it is meant to inform cannot serve its purpose,” they emphasised. “The second Global Stocktake in 2028 is such a decision point, and the world should not have to face it without the IPCCʼs latest assessment.”
Europe, small islands and the least developed countries, plus many Latin American and developed nations, want the IPCC to meet this deadline, arguing that the findings from the UN climate science body are irreplaceable in the UN climate policy-making process.
However, around a dozen developing countries plus Russia have argued that the reports should come later in order to allow for greater research input from the Global South – something that, in their view, would make the findings fairer. They also claim that a shorter timeline would put excessive pressure on experts.
The most vocal of this group at last week’s meeting were India and Saudi Arabia, according to the ENB summary and a developed country diplomat. Critics see this push for a longer timeline as an excuse to deprive government decision-makers of the latest science and ease pressure on emerging economies to raise their ambition, particularly on cutting emissions.
Commenting on last week’s meeting, France’s ambassador for climate negotiations Benoît Faraco said a broad coalition of developed and developing countries from all five continents, “united in their support for science and the timeline proposed by scientists”, had withstood pressure “from a few countries” seeking to slow down the process of adopting the IPCC reports.
He added that France would not back down and would “continue to fight tirelessly for science, protect the integrity of information, and convince our partners that without the best available scientific data, we will be less effective in tackling climate change and protecting our populations”.


Inclusivity proposal stalled
In a bid to unlock a solution for the AR7 timeline, countries discussed ways to improve the inclusivity of the IPCC’s work. One option put on the table was for the IPCC to expand its funding for delegates from developing countries to attend some or all of its sessions from one to two participants, according to the ENB summary and a delegate speaking to Climate Home News.
That would increase the costs for the IPCC to complete AR7 by up to a quarter, according to an assessment shared by the secretariat. The panel’s budget is under severe strain and its officials have warned that, without additional voluntary contributions, it risks running out of money before it can deliver on this assessment cycle.
Climate Home News understands that some of the IPCC’s traditional donors – which mainly include European countries, Japan and Australia – indicated a willingness to support funding for an additional developing country participant. But without an agreement over the budget or the timeline for the reports, that option was ultimately not adopted.
‘Disappointed and worried’
The three reports are managed by working groups that collate and draw overall findings from the latest scientific studies and data on the physical effects of global warming around the world, how to adapt to it, and pathways for cutting planet-heating emissions in order to meet the temperature goals of the Paris Agreement.
Winston Chow, an urban climate professor at Singapore Management University who co-chairs Working Group II on adaptation, wrote in a LinkedIn post that he was “disappointed and worried” for the IPCC authors who have worked “extraordinarily hard” to assess the relevant climate science over the past two years.
He said he shared their concern that “the rigour, time and goodwill they’ve invested are now being put at risk by the Panel’s stalemate”.
As science comes under attack at UN talks, climate movement splits over how to respond
For Working Group II, a meeting for 250 experts writing that report is scheduled for January 2027, followed by the approval of a special report on cities and climate change in Singapore next March.
But because the IPCC’s budget has not been confirmed due to uncertainty about the AR7 schedule, travel support for those researchers is at risk, wrote Chow. “If they cannot participate, our assessments will lose vital expertise, perspectives and scientific breadth, and the collective effort of our authors will be undermined,” he warned.
Scientific work continues
Despite the political holdups, he – together with French climate scientist Robert Vautard, co-chair of Working Group 1 – agreed with IPCC head Skea who told the IPCC’s closing session on Friday: “The engine room of the IPCC is working, and it’s healthy.”
Vautard commented in a separate post on LinkedIn after it ended: “The boat is at full steam.” Working groups I and II are due to start revising the first drafts of their reports, while Working Group III on reducing emissions is finalising its first draft which will be out soon, he wrote.
“The most exciting two years of the cycle are ahead, for the authors. The momentum in the engine room is here and now. Trust the engine room!” he added.
The IPCC and some scientists report that progress has been made towards achieving an equitable balance of authors from the Global North and the Global South.
The group of researchers who signed the open letter on Monday noted that “inclusivity is at the heart of how we work”, with author teams bringing together experts from developed and developing countries with diverse backgrounds and at different stages of their careers.


Plea to overcome political differences
The signatories include several scientists from some of the countries opposed to the alignment of all IPCC reports with the Global Stocktake.
“We are committed to an assessment in which the knowledge, experience and priorities of every region are fully reflected, a commitment we share with the leadership of the IPCC.
Equity is built into how our assessment is being drafted,” they added.
They appealed to governments that make up the IPCC “to overcome their political differences and work together as we do as a global scientific community, so that we can deliver the IPCC reports the world needs to hear”.
In a statement published on Monday, IPCC chair Skea said reaching consensus on the schedule for the reports is “vital”. He added that the assessments provide authoritative scientific evidence to inform national climate policies, strengthen adaptation and resilience and support access to climate finance, as well as helping communicate the scale of the climate crisis and the urgency of efforts to tackle it.
The post IPCC scientists vow to press on with climate reports despite political deadlock appeared first on Climate Home News.
IPCC scientists vow to press on with climate reports despite political deadlock
Climate Change
Protecting nature is a public duty, not a Wall Street profit opportunity
An Lambrechts is a biodiversity politics expert at Greenpeace International with extensive experience in biodiversity-related multilateral negotiations. She is the head of the Greenpeace delegation at the Convention on Biological Diversity (CBD) COP17 happening in Yerevan, Armenia.
In 2022, COP15 delivered the landmark Kunming-Montreal Global Biodiversity Framework to halt and reverse biodiversity loss by 2030. With COP17 starting in Yerevan, we are now halfway to the deadline, and according to the first Global Review of progress, countries are not on track to meet the biodiversity targets, and implementation must accelerate fast.
One of the main findings of the Global Review is that funding falls far short of the scale needed to halt and reverse nature loss. But the crisis facing the world’s biodiversity is not an absolute scarcity of capital – it is a profound public policy distortion.
The global economy currently spends roughly $30 destroying nature for every single dollar invested in its protection. According to a report from the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services, a staggering $2.4 trillion is spent in public subsidies for fossil fuels, agriculture and water use, while global investment in biodiversity conservation and restoration stands at a mere $220 billion.
Countries urged to ramp up “insufficient” nature policies at COP17
Yet, discussions about how to close the biodiversity finance gap continue to claim that salvation lies in mobilising private capital, scaling offsets and “derisking” investments in nature. This is a fundamental misunderstanding of both the nature of ecological stewardship and of the global financial architecture.
Biodiversity conservation is not a speculative investment portfolio – it is the foundation of human survival. The health of our planet is a non-monetisable, non-excludable public good. Expecting profit-seeking private capital to protect nature perpetuates the structural drivers of ecosystem destruction in the first place.
But if private market mechanisms cannot save biodiversity, where will the necessary public resources come from?
Money going to the wrong places
The answer lies in recovering the vast public wealth currently drained by cross-border tax abuse, financial secrecy and corporate impunity. Finance and environment ministers meeting in Yerevan must give a strong political signal that, to avert ecological breakdown, countries need to take swift action to reform global tax rules, eliminate harmful public subsidies and cancel unsustainable sovereign debts for the public revenues to end up where they belong.
Extractive sectors such as industrial agriculture, fishing, timber and mining continue business-as-usual, often heavily subsidised by public treasuries, while voluntary carbon and biodiversity offset markets pose a serious risk to nature conservation. Offset schemes have delivered only a negligible fraction of the funding needed to preserve ecosystems, allowing industries to continue with their destructive business-as-usual practices.
In advanced economies, public funding often actively undermines biodiversity. In Europe, over €5.3 billion in public subsidies is funnelled annually into intensive


